Investments

Intermex

Intermex (NASDAQ: IMXI) has been a leading provider of money transfer services in the U.S. to Latin America and the Caribbean. The company was founded in 1994, beginning operations in the states of Washington and Oregon. In 1996, Intermex expanded operations to Florida, opening its corporate headquarters in Miami. By 2014 the company was licensed to operate in over 49 states, consolidating its position as one of the leading money transfer companies to Latin America and, continuously outpacing the market growth.

The company has offered wire transfer, money order, and cash checking services, and the majority of its revenue has been earned from wire transfer and money order fees.

FinTech Acquisition Corp. II (formerly NASDAQ: FNTE), a $175mm SPAC, completed its business combination with Intermex in July of 2017 at an implied equity value of $300mm. The partnership has been formed to help facilitate Intermex's transition into a public company, reduce its cost of capital, and increase visibility with customers and agents.